Google purchased YouTube for $1.6 billion in 2006. Now, in addition to a search engine, Gmail, calendar, chat room, and other applications and tools, Google owns the popular video-sharing Web site. What implications might this purchase have for market power and concentration?
Answer to relevant QuestionsWhat are the disadvantages of market power for society? Be sure you understand why these result from market power. How do tariffs and import quotas harm the consumer? How do they harm the U.S. worker? Many have argued that the government should attach a value to homemaking services and include this value in gross domestic product statistics. Do you agree? Why? How do you feel about the elimination of the estate tax on extremely high values of inheritance? Why did the Bush administration refer to this tax as a “death tax”? Assume that the process of privatization continues successfully in Russia. Would all the problems of Russian industry by solved? What other policies may be necessary?
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